The Globe and Mail reports in its Saturday edition BCE will not sell any more television or radio stations to gain CRTC approval for its $3-billion takeover of Astral Media, the company told the broadcast regulator Friday. The Globe's Steve Ladurantaye writes the current deal has already won approval from the Competition Bureau, but needs to be cleared by the CRTC as well.
In an effort to win its support, the companies amended the deal to divest television channels such as Teletoon and Disney XD and 10 radio stations.
BCE's rivals demanded it go further when they made presentations to the CRTC this week.
Astral Media chief executive officer Ian Greenberg, whose family owns a controlling stake of the company, said if the deal is refused it would throw his company into at least a year-long period of uncertainty as it tries to figure out how to proceed without BCE.
He said the deal is needed because rising costs make it increasingly difficult for Astral to secure the content needed for its speciality channels and compete against services such as Netflix, and any rejection would cast its future in doubt.
"The consequence of a second denial would be severe," Mr. Greenberg said.
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